RAKESH SHYAMDAS RAJWANI (132989@icai.

org)
Status : Fail
Assessment Date : 20-06-2022 16:13:32 (GMT+05:30)
Performance Level : Low

30.00 50.00 40.00

Your Total Assessment Cut-Off marks
Score
Score (Pass Marks)

60.00 L
Your Performance
Percentage
Category

This report helps you to achieve your targets

as per below stated objectives:
Improve your conceptual understanding
Address specific areas of improvement personalized
to you
 Performance Categories
Based on the performance of the students, we have framed the following categories to place you in accordance with your performance

Performance Category Definitions

Excellent
Outstanding level of performance indicates that the candidate has done excellent work and mastered the concepts.
High
High level of performance indicates that the candidate has done above average work and mastered almost all the concepts.
Moderate
Acceptable level of performance indicates that the candidate has done average work and has mastered many of the concepts.
Low
Needs improvement in performance indicates that the candidate has done and mastered very few or none of the concepts.

Performance Criteria

PERFORMANCE CATEGORY RANGE

Excellent 91% to 100% of Max Marks

High 81% to 90% of Max Marks

Moderate 61% to 80% of Max Marks

Low Below 60% of Max Marks

Performance Category based on student marks

SECTION (GROUP) EXCELLENT HIGH MODERATE LOW

sec-1 (MCQ on Financial Statement Fraud ) 45.50 and above 40.50 to 45.00 30.50 to 40.00 Below 30.00
 SECTION (GROUP) EXCELLENT HIGH MODERATE LOW

Overall Score 45.50 and above 40.50 to 45.00 30.50 to 40.00 Below and equal to 30.00

Where do you stand?

SECTION (GROUP) SCORE PERFORMANCE CATEGORY

sec-1 (MCQ on Financial Statement Fraud ) 30.00 / 50.00 L

Overall Score 30.00 / 50.00 L

Recommendations and Suggestions

1. Based on your overall scores:
Your overall score falls in the L category.
Please attain more knowledge and practice more number of questions.
2. Based on your section-wise performance:
You seem to be inadequate in all sections. Please attain more knowledge and practice more number of questions.
3. Some general suggestions to optimize your score:
The best performers plan and allocate equal time to each section.

Overall Performance Analysis

The below table shows section-wise analysis of marks scored by you, time spent by you, your percentage, your accuracy and number of correct, incorrect,
unanswered and marked for review questions.

MARKS TIME YOUR YOUR MAX NO OF MARKED

SPENT BY TOTAL QUESTIONS
SECTION (GROUP) SCORED SECTION SECTION QUESTIONS QUESTIONS - ATTEMPTED CORRECT INCORRECT UNANSWERED FOR
BY YOU YOU (IN PERCENTAGE ACCURACY TO ATTEMPT REVIEW
MINS)
 MARKS TIME YOUR YOUR MAX NO OF MARKED
SPENT BY TOTAL QUESTIONS
SECTION (GROUP) SCORED SECTION SECTION QUESTIONS QUESTIONS - ATTEMPTED CORRECT INCORRECT UNANSWERED FOR
BY YOU YOU (IN PERCENTAGE ACCURACY TO ATTEMPT REVIEW
MINS)

sec-1 (MCQ on
Financial
30.00 3:08 60.00% 60.00% 10 10 10 6 4 0 0
Statement

Fraud )

Total 30.00 3:08 60.00% 60.00% 10 10 10 6 4 0 0

Note:The percentage (%) and accuracy below the prescribed values (60 %) are shown in red color

Below pie-chart shows section-wise percentage of marks scored

Section-wise marks

sec-1, 30

sec-1
 Impact of Incorrect Responses
Below table provides the marks lost due to incorrect responses.

SECTION(GROUP) NUMBER OF INCORRECT RESPONSES MARKS LOST DUE TO INCORRECT RESPONSES TOTAL SCORE IF INCORRECT RESPONSES WERE NOT MARKED

sec-1(grp1) 4 0 30

Overall 4 0 30.00

In order to attempt more accurately, consider the following suggestions while attempting the questions:

1. If you are not able to solve a question correctly or have doubts in your approach towards the solution, skip it for later.
2. Quickly revise the steps for avoiding calculation or casual mistakes.
3. Avoid guesswork.

Overall Preparedness Analysis

The below table represents the percentage of correct questions achieved at the analysis level.
Conceptual errors, for which you would require more reading and understanding of concepts.
Minor or careless mistakes, for which you would require a more composed and calm approach towards solving the question paper.

Time Management
Below table shows the time you spent in each section.
 SECTION (GROUP) TIME SPENT BY YOU (IN MINS)

sec-1 (MCQ on Financial Statement Fraud ) 3:08

Total time spent 3:08

Recommendations
1. It is essential for each aspirant to plan and schedule time for each section diligently. This is important to score well in each section and ultimately meet the cut-off.
2. This will also help you in attempting all the questions in each section and hence not missing the opportunity to score more.

Response Change Pattern

Below table provides the number of times you have changed your responses while answering the test and also the nature of those response changes.

SECTION(GROUP) CORRECT TO INCORRECT INCORRECT TO CORRECT INCORRECT TO INCORRECT CORRECT TO UNANSWERED INCORRECT TO UNANSWERED

sec-1 (MCQ on Financial Statement Fraud ) 0 0 0 0 0

Overall 0 0 0 0 0

It is suggested that guesswork should be avoided for any type of response changes. It has been observed that more often than not, guesswork leads to an incorrect
response thereby inviting negative marks which in turn has an adverse effect on the overall rank.
You must use your knowledge, observation and elimination skills to arrive at the correct answer.
 Interpretation and Suggestions
1. Incorrect to incorrect response change:
You may need to work more on the concept level, in order to gain confidence.
2. Incorrect to correct response change:
At the first glance you were not very sure about the solution.
You must spend at least 1 minute per question and if you are not able to reach to the solution, you must revisit the question to enhance your score.
Perform this response change only when you are confident or have spotted a mistake in the solution of your first response.
3. Correct to incorrect response change:
You are not sure of the solution and have either applied a wrong concept or made a calculation mistake.
You need to practice more questions on the same concept.
4. Correct to unanswered response change:
You are not sure of the solution
You need to practice more questions on the same concept.
Perform this response change only when you are not confident of your solution.
You must try to spend at least 1 min before leaving it unanswered.
5. Incorrect to unanswered response change:
Your judgment of avoiding negative marks is right.
You must try to spend at least 1 min before leaving it unanswered.

Overview: sec-1
The below table provides your marks in sec-1 along with the average marks scored by the others (students who cleared this assessment) and the marks scored by
the topper.

MARKS SCORED BY YOU YOUR SECTION PERCENTAGE YOUR SECTION ACCURACY TIME SPENT BY YOU (IN MINS)
 MARKS SCORED BY YOU YOUR SECTION PERCENTAGE YOUR SECTION ACCURACY TIME SPENT BY YOU (IN MINS)

30.00 / 50.00 60.00% 60.00% 3:08

Note:The percentage (%) and accuracy below the prescribed values (60%) are shown in red color

Question wise Analysis

Correct, 6

Marked for Review, 0

UnAnswered, 0

InCorrect, 4

Correct InCorrect UnAnswered Marked for Review

Performance Analysis: sec-1

1. The below table analyzes your performance at question level
2. It highlights conceptually strong and improvement areas within the section and areas that require reinforcement of concepts.
3. The accuracy of the response to each question and time spent are correlated and interpreted in terms of expert advice on preparedness level.

Question wise details

Please click on question to view detailed analysis

= Not Evaluated = Evaluated = Correct = Incorrect = Not Attempted = Marked for Review
= Answered = Correct Option = Your Option

Question Details

Q1. Which of the following is true?

Status : Answered

Options :

1. Perpetrating fraud is much easier in an organization with democratic leadership, where the decision making is spread among several individuals
2. Most financial statement frauds occur in large historically profitable companies.
3. An active board of directors or audit committee does little to deter fraud.
4. Most people who commit management fraud are first-time offenders.

Timespent (in sec): 0 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
 Q2. Which one of the following is most important to promote Ethics culture in the company?

Status : Answered

Options :
1. Conflict of interest disclosure documents
2. Establish Hotline
3. Tone at the top
4. Written Ethics Policy

Timespent (in sec): 0 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0

Q3. A company is highly leveraged and still planning to borrow more in form of debt for further expansion. Which of the following
merits strongest scrutiny to rule out any misdoing in form of fraud?

Status : Answered

Options :

1. Loans and other financing transactions between related entities

2. Recent change in credit policies
3. Large transactions that result in revenues and/or income
4. Large amounts of goodwill on the balance sheet

Timespent (in sec): 0 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0

Q4. Which of the following actions are used to reduce Fraud losses?

Status : Answered

Options :

1. Conduct periodic external and internal audits.

2. Implement a fraud hotline.
3. Maintain adequate insurance.
4. Develop a strong system of internal controls.

Timespent (in sec): 0 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
 Q5. As part of your investigation of a company where the principal objective is investigation of financial statements Which of the
following would be considered while reviewing the financial statements

Status : Answered

Options :

1. The financial statements alone

2. Company management and their motivations
3. Financial statement numbers compared with real-world numbers
4. B and C

Timespent (in sec): 0 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0

Q6. Despite established Controls, lots of frauds is observed in the company by management themselves principle reason is

Status : Answered

Options :
1. None of the above
2. Lack of oversight by Management
3. Lack of oversight by auditors
4. Managements power to override control

Timespent (in sec): 0 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
 Q7. All the following are Financial Statement Fraud Except

Status : Answered

Options :
1. Falsification, Alteration or manipulation of material financial records, supporting documents or business transaction
2. Material and intention omission of events, transaction and accounts which are significance for preparation of Financial Statement Frauds
3. Deliberate misapplication of accounting principles, policies and procedures used to measure, recognize, report and disclose economic event and
business transaction
4. Unintentional omission of disclosure or presentation of inadequate disclosures missed inadvertently

Timespent (in sec): 0 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0

Q8. Which of the following pressures are classified as Management Characteristics that can lead to financial statement fraud?

Status : Answered

Options :

1. High attrition of Employees/Management

2. New regulatory requirements that impair financial stability or profitability
3. Industry showing downward trend
4. Intense pressure to meet or exceed earnings expectations

Timespent (in sec): 0 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0

Q9. Which of the following is Pivotal for Anti-Fraud Program?

Status : Answered

Options :
1. Neither A & B
2. Both A & B
3. Corporate Culture – Creation of environment that sets effective tone at the top promoting ethical behaviour and reinforcing antifraud conduct
4. Control Structure – Establishment of effective control structure to eliminate opportunity for individual to engage in fraudulent activities

Timespent (in sec): 0 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0
 Q10. For an act to be legally considered fraud it must be all of the following except:

Status : Answered

Options :

1. A false statement.
2. No intent to deceive.
3. A material fact.
4. Justifiable reliance.

Timespent (in sec): 0 Correct to Incorrect: 0 Incorrect to Correct: 0 Incorrect to Incorrect: 0 Correct to unanswered: 0 Incorrect to unanswered: 0

Your Response Change Pattern: sec-1

The below table provides the number of times you have changed your responses to the sec-1 questions and also the nature of those response changes.

CORRECT TO INCORRECT INCORRECT TO CORRECT INCORRECT TO INCORRECT CORRECT TO UNANSWERED INCORRECT TO UNANSWERED

0 0 0 0 0

Error Identification and Rectification: sec-1